On January 1, 2009, Hygille, Inc., reports net assets of $880,000 although a patent (with a 10-year
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On January 1, 2009, Hygille, Inc., reports net assets of $880,000 although a patent (with a 10-year life) having a book value of $330,000 is now worth $400,000. Nuyt Corporation pays $840,000 on that date for an 80 percent ownership in Hygille. On December 31, 2010, Hygille reports total expenses of $621,000 while Nuyt reports expenses of $714,000. What is the consolidated total expense balance? LO6
a. $1,197,800.
b. $1,335,000.
c. $1,342,000.
d. $1,349,000.
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Advanced Accounting
ISBN: 9780073379456
9th Edition
Authors: Joe Ben Hoyle, Timothy S. Doupnik, Thomas F. Schaefer, Oe Ben Hoyle
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